Indeed, the company is currently hiring for several positions in Atlanta, as well as a director of compliance for their European office and a general manager in Asia.īeaudry says that BitPay is “open to working with other states,” and “is always in discussions with customers looking to accept bitcoin for a variety of projects. “We can share that as a payment processor, when the price of bitcoin goes up people tend to spend them and likewise when the prices goes down they spend as well. BitPay’s transaction volumes have continued to rise in 2018, despite the drop in price,” he tells Hypepotamus. Or visit their official status page or website: Where do you get the official BitPay status We use the official BitPay status page. Without disclosing any exact figures, Beaudry indicates that the company has not been adversely affected by the price drops. You can also try Tweeting at them via BitPay on Twitter. Though bitcoin can itself be volatile (in less than a year the price has seen fluctuations from a peak $19,500 in December 2017 to less than $4,000 now), that won’t affect Ohio’s tax revenue, since BitPay converts the cryptocurrency immediately upon receipt. “BitPay was started because we recognized the potential for blockchain to revolutionize the financial industry, making payments faster, more secure, and less expensive on a global scale,” said Jeremie Beaudry, Head of Compliance at BitPay, in a statement earlier this year. All transactions on the blockchain can be viewed by anyone. 1800 Baskets has a wonderful variety of gift baskets and food gifts that fit every occasion including Birthday, Spring, Easter, Anniversary, Corporate Gifts, New Baby, Sympathy, and Thank You. The payer is also responsible for a miner and network fee, but that goes through their own bitcoin wallet.īitPay also says blockchain can reduce payment fraud while improving transparency. Credit and debit card processing often initiates a heavy fee burden, whereas BitPay will charge a mere 1 percent transaction fee (after a three-month introductory period of zero fees). The state Treasury has indicated they would like to expand the program to consumers at a later date.īitPay representatives lay out the benefits of paying by cryptocurrency.
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Unlike Seminole County, where residents can pay property taxes, driver license and ID card fees, and tag and title fees with bitcoin, the Ohio program is limited to businesses paying taxes. This past May, they helped Seminole County, Florida, become the first-ever government entity to accept bitcoin payment. Though Ohio is the first state government offering this option, BitPay has worked in this capacity with public officials before.
The Ohio Treasury therefore never has to actually touch the digital currency. Similarly, on, any tax payments made through the site will be immediately converted by BitPay into USD, and then deposited into the state’s coffers. The real-time blockchain transaction is facilitated by Atlanta-based BitPay.īitPay is one of the first and the largest cryptocurrency payment processor worldwide. Their technologies allow consumers to spend and save cryptocurrency, and businesses to accept it as payment in real-time. Ohio has become the first state to accept bitcoin tax payments, through a platform called. state has begun using cryptocurre ncy to help facilitate tax collection, rather than complicating it. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.There’s been lots of questions around how the government should deal with taxing cryptocurrency income and assets - are they a commodity? A security? Can you be unknowingly convicted of tax evasion?īut as of this week, one U.S.
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